Primedia Hires Firm to Explore
The Sale of New York Magazine

By

Matthew Rose Staff Reporter of The Wall Street Journal

Updated Sept. 10, 2003 5:55 p.m. ET

Magazine publisher Primedia Inc. has decided to hire media investment banker Allen & Co. to "explore strategic options" for New York magazine, the latest property to come under the hammer at the struggling company, according to people familiar with the situation.

An announcement is expected later Wednesday.

Saddled with debt and without a permanent chief executive, Primedia already has sold a raft of magazine...